Business, 30.11.2021 19:30, jaideeplalli302

(a) On March 1, 2021, Pharoah Co. issued at 103 plus accrued interest $4,170,000, 8% bonds. The bonds are dated January 1, 2021, and pay interest semiannually on July 1 and January 1. In addition, Pharoah Co. incurred $25,000 of bond issuance costs. Compute the net amount of cash received by Pharoah Co. as a result of the issuance of these bonds. (Round present value factor calculations to 5 decimal places, e. g. 1.25124 and final answer to 0 decimal places, e. g. 5,275.) Net amount of cash received $ (b) On January 1, 2020, Novak Co. issued 8% bonds with a face value of $683,000 for $599,063 to yield 10%. The bonds are dated January 1, 2020, and pay interest annually. What amount is reported for interest expense in 2020 related to these bonds, assuming that Novak used the effective-interest method for amortizing bond premium and discount

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 15:30, emilylizbeth12334

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.

Answers: 1

continue

Business, 22.06.2019 23:10, BABA761

Asemiprofessional baseball team near your town plays two home games each month at the local baseball park. they split the concessions 50/50 with the city, but keep revenue from ticket sales for themselves. the city charges the team $100 each month for the three-month season. the team pays the players and manager a total of $1,000 a month. the team charges $10 for each ticket, and the average customer spends $7 at the concession stand. attendance averages 30 people at each home game. in order to break even, how many tickets does the team need to sell for each game? a. 33b. 37c. 41e. 49f. 244

Answers: 1

continue

Business, 23.06.2019 01:00, jerzie53

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,000 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,000 from hopkins. on july 10, the entry or entries gideon makes to record the recovery of the bad debt is

Answers: 1

continue

Business, 23.06.2019 10:30, daiscott2306

You've arrived at the pecan shellers conference—your first networking opportunity. naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've decided to a. speak a little louder than you would normally. b. talk on your cell phone as you walk around. c. hold an empowered image of yourself in your mind. d. square your shoulders before entering the room.

Answers: 2

continue

Do you know the correct answer?

(a) On March 1, 2021, Pharoah Co. issued at 103 plus accrued interest $4,170,000, 8% bonds. The bond...